Asian stocks recover modestly from sharp losses

Asian stock markets recovered modestly Friday, with Japan's benchmark gaining nearly 2 percent on better-than-expected news about company spending in the world's second-largest economy. European markets were mostly higher.

Regional markets, up sharply over the last two months, fell the previous session as evidence that U.S. consumers were still keeping wallets closed made investors think twice about their expectations of a second-half recovery.

But news Japanese machinery orders in March were less dismal than expected seemed to comfort investors once again, fitting a pattern of recent economic readings that suggest the global recession is easing.

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